Income, Age Key Factors in Retirement Funding Expectations

Nonretired Americans’ expectations about which sources they will rely on to fund their retirement differ significantly by their annual household income. Upper-income nonretirees are much more likely to say investments, such as a 401(k), IRA and other retirement savings accounts or individual stock investments, and work-sponsored pension plans will be major sources of their retirement income. In contrast, lower-income respondents are more likely to say Social Security and part-time work will be major sources. [cont.]

Jeffrey M. Jones, Gallup